Utah Code 7-1-710. “Agency” defined — Purposes and establishment of agency
Current as of: 2024 | Check for updates
|
Other versions
(1) As used in this section, “agency” means a place, person, or facility, stationary or mobile, other than the home office or a branch office:
Terms Used In Utah Code 7-1-710
- Branch: means a place of business of a financial institution, other than its main office, at which deposits are received and paid. See Utah Code 7-1-103
- Commissioner: means the Commissioner of Financial Institutions. See Utah Code 7-1-103
- Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
- Financial institution: means an institution subject to the jurisdiction of the department because of this title. See Utah Code 7-1-103
- Institution: means :(19)(a) a corporation;(19)(b) a limited liability company;(19)(c) a partnership;(19)(d) a trust;(19)(e) an association;(19)(f) a joint venture;(19)(g) a pool;(19)(h) a syndicate;(19)(i) an unincorporated organization; or(19)(j) any form of business entity. See Utah Code 7-1-103
- Person: means :
(27)(a) an individual;(27)(b) a corporation;(27)(c) a limited liability company;(27)(d) a partnership;(27)(e) a trust;(27)(f) an association;(27)(g) a joint venture;(27)(h) a pool;(27)(i) a syndicate;(27)(j) a sole proprietorship;(27)(k) an unincorporated organization; or(27)(l) any form of business entity. See Utah Code 7-1-103- Writing: includes :
(48)(a) printing;(48)(b) handwriting; and(48)(c) information stored in an electronic or other medium if the information is retrievable in a perceivable format. See Utah Code 68-3-12.5(1)(a) where functions of the financial institution not involving the receiving or paying of deposits, making of loans or the handling of cash may be performed;(1)(b) established for individual transactions and for special temporary purposes;(1)(d) established to perform the functions of a financial institution service corporation.(2) A financial institution may establish one or more agencies without the prior written approval of the commissioner. Within 30 days of the establishment of an agency, the financial institution shall inform the commissioner in writing of the address of the agency and the specific functions for which it was established.(3) No agency may be converted to a branch without compliance with Section 7-1-708. - Person: means :